To all the wise ones on this forum:

I have been baffled by the noise coming from the transmission. If its in park or neutral, it is a really pronounced high pitched whine, one can hear it distinctly when near the car.
When shifted to D or R, noise subsides, but picks up with acceleration.
Climbing under the car, it coming somewhere near the center of the tranny.

According to the previous owner, the German car repair shop they went to, noticed it on Mar 1st, 2010 and advised further diagnosis "and to pay attention if it gets worse".
The car had a full transmission service on December 24th, 2009, when the car had 108127 miles on it.
Now the car is at 136500. Transmission oil level is right at the upper notch when the car is started cold and left to idle for two minutes...It is reddish and clear.

Any advice is greatly appreciated!

The oil level should be measured with a warm transmission, i.e. after driving it for 30 minutes or more. Transmission in P, parking brake on, engine idling for 1 to 2 minutes.

Whining from the transmission can be as simple as a blocked filter.

Went ahead and checked the fluid level, it appeared to be overfilled by a lot. According to car records, 9 quarts of ATF were paid for during the last service. I don't know if all 9 quarts made it in, but overfill condition was obvious. And the car has been driven that way for almost 30,000 miles.

I changed the fluid and filter (drained the TC as well), filled to correct level, the whine did not subside. I'm thinking the front pump or the B2 band. How much longer do i have before tranny fails?

The old fluid was red in color, no burnt smell, the pan was clean with no metal shavings. The car shifts great in all gears, hot or cold.
It's just the jet whine that is bugging the heck out of me.
If the tranny was indeed overfilled for the last 30,000 miles, what would be the side effects?